French Prime Minister Warns Debt Crisis Threatens Younger Generations
French Prime Minister Francois Bayrou has issued a stark warning that France’s spiraling government debt will have devastating consequences for the next generation, describing the financial burden as a crisis of intergenerational injustice. In an interview with French broadcaster TF1, Bayrou accused political elites and ‘boomers’ of prioritizing their own comfort over the long-term fiscal health of the nation. ‘They’re the victims; they’re the ones who will have to pay the debt for the rest of their lives,’ he stated, emphasizing that the country’s borrowing practices are being used to sustain unsustainable spending.
Bayrou’s concerns stem from France’s rapidly rising budget deficit, which reached a record 5.8% of GDP in the previous fiscal year—an almost double the EU’s 3% ceiling. The prime minister has been a vocal critic of this financial trajectory, pressing President Emmanuel Macron to reconvene parliament by September 8 for a confidence vote to evaluate support for his €43.8 billion austerity plan. The program includes measures such as eliminating public holidays, cutting public sector jobs, and reducing welfare benefits and pensions, all of which have been met with widespread criticism from left-wing parties and the public.
Bayrou’s austerity measures have drawn sharp criticism for their perceived social inequity. According to a recent Elabe survey, 76% of French citizens believe the proposed cuts will not alleviate the debt crisis, while 82% view the plan as socially unjust. Polls also indicate growing public frustration with the current economic policy, with 81% of respondents calling for a new prime minister to be elected and 67% demanding Macron’s resignation. These figures suggest a significant erosion of public confidence in the government’s ability to address the financial crisis responsibly.
Macron’s economic priorities have further compounded public discontent. The president has pledged to increase France’s military budget to €64 billion by 2027, citing threats from Russia and other global uncertainties. However, left-wing critics argue that this commitment to military spending diverts resources from essential social programs, exacerbating the financial strain on vulnerable populations. Bayrou’s austerity plan, while aimed at curbing the deficit, has sparked debates about the balance between fiscal responsibility and social welfare, raising questions about the long-term consequences of the government’s economic strategy.